Jim Cramer Says CEO Tony Spring is "Turning Macy's Around"

Macy’s, Inc. (NYSE:M) is one of the stocks Jim Cramer shared insights on. Cramer mentioned the company during the episode and said:

“If you listened to Tony Spring last night, the CEO who’s turning Macy’s around, he seemed most proud of how he’d been able to improve the balance sheet… at what was a very cyclical retailer. And you know, when you’re in a cyclical business like retailing, you can’t afford to have a weak balance sheet.”

Macy’s, Inc. (NYSE:M) is an omni-channel retailer and it provides apparel, accessories, cosmetics, home goods, and other merchandise under the Macy’s, Bloomingdale’s, and Bluemercury brands. On September 3, Cramer discussed the company’s earnings, as he commented:

“Oh, here’s a great story. Look at this incredible move in the stock of Macy’s, up over 20% today in the wake of a tremendous quarter. Despite a tough environment for retail, this company, which also owns Bloomingdale’s [and] Bluemercury, reported a stellar set of numbers this morning. Macy’s posted a stunning 22-cent earnings beat off a 19-cent basis, higher than expected revenue, and the best same-store sales numbers in 12 quarters. Even better, management raised their full-year forecast for sales and earnings. I’ve been saying there is a turnaround brewing here, and boy, did we get proof of it today.”

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